UK asset manager puts $68 billion of funds on-chain via Calastone token network

Finance Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email UK asset manager puts $68 billion of funds on-chain via Calastone token network Legal & General Asset Management brings decades-old money market funds onto blockchain rails to expand access and enable faster settlement. By Olivier Acuna | Edited by Stephen Alpher Apr 15, 2026, 7:17 p.m. Make preferred on Blockchain infrastructure handles trading, issuance and reconciliation for investors. (Midjourney/Modified by CoinDesk) What to know : Legal & General Asset Management has moved more than £50 billion in liquidity funds onchain via Calastone’s new Tokenized Distribution Network. The firm is offering money-market style funds as tokenized shares on blockchain infrastructure, enabling issuance, trading and same-day settlement in dollars, euros and pounds. Investors can now buy, hold and transfer tokenized units within a permissioned, regulated network, with funds launched on Ethereum and compatible blockchains, with more networks planned. Legal & General Asset Management announced Wednesday that it placed the more than 50 billion pounds (roughly $68 million) in liquidity funds that it manages onchain through a new distribution channel built by Calastone. “We are thrilled to make our liquidity funds available on the Calastone Tokenized Distribution Network,” said Ross McDonald, liquidity investment specialist at L&G. “Tokenized distribution provides meaningful enhancements in efficiency and reach.” The U.K.-based firm said it now offers its money-market style funds as tokenized shares on the Calastone Tokenized Distribution Network, which uses blockchain infrastructure to handle issuance, trading and settlement. The funds operate in U.S. dollars, euros and pound sterling and aim to provide capital preservation, same-day settlement and yield, the firm’s statement adds. Calastone’s system manages token creation, order routing, trade aggregation and reconciliation while linking to existing fund administration systems. L&G said its investors are now allowed to buy, hold and transfer tokenized units within a permissioned network designed for regulated access. L&G also explained that their tokenization of liquidity assets expands how investors can access short-term funds, especially through digital platforms that require faster settlement and continuous availability. Tokenized versions of the funds will launch on Ethereum and compatible blockchains, with more networks planned, the firm said. Simon Keefe, head of digital solutions at Calastone, said the launch shows how tokenization can apply to established fund structures “to enhance distribution, improve efficiency and broaden access within a controlled, regulated framework.” More For You Tether adds $70 million in bitcoin to reserves, bringing holdings above 97,000 BTC By Krisztian Sandor | Edited by Stephen Alpher 15 minutes ago The USDT stablecoin issuer has now accumulated over $7.1 billion in bitcoin as part of its strategy to recycle up 15% of its profit into BTC. What to know : Tether has added another $70 million in bitcoin to its reserves, bringing its holdings to 97,141 BTC worth about $7.16 billion, blockchain data shows. The company has been steadily buying bitcoin under a 2023 policy to allocate up to 15% of realized operating profits into the cryptocurrency. Tether reported $10... Read full story Latest Crypto News Tether adds $70 million in bitcoin to reserves, bringing holdings above 97,000 BTC 15 minutes ago The Protocol: Bitcoin proposal that could freeze quantum-related coins 1 hour ago Wall Street won’t buy ‘trustless’ security promises 2 hours ago Crypto Long & Short: Fighting fraud in the digital age: why state-led identity is the future 3 hours ago Bitcoin developer Jameson Lopp says it's better to freeze 5.6 million BTC than let hackers have them 3 hours ago Why Morgan Stanley's CFO sees tokenization as the next big step for its multi-trillion wealth business 4 hours ago Top Stories Allbirds abandons sneakers in pivot to AI computing, shares surge 400% 5 hours ago Beyond ‘digital gold,’ Iran conflict forces a rethink of the nature of bitcoin 6 hours ago Trump-backed WLFI moves to unlock 62 billion tokens after $75 million loan controversy 6 hours ago A new class of crypto treasury companies is forming around Strategy’s high-yield stock 9 hours ago Why this ex-Solana exec is using a Wall Street trick to level the playing field in DeFi 9 hours ago Bitcoin developers are trying to build quantum defenses. Your coins could pay the price. 13 hours ago